Tips to get cheaper car insurance

With daily car journeys a necessity for many families, it’s likely there are few of us who could seriously consider life without our own motor. But when your car insurance renewal quote arrives on your doormat, you could be forgiven for thinking again… Perhaps even for hunting out your local bus timetable.

Auto insurance can be a major cost for motorists who already face high fuel prices, paying for regular MOTs and services and of course covering the cost of the vehicle they drive each day.

1. Compare car insurance online

Shopping around for auto insurance is often a simple but effective way to reduce the price you pay for cover. Insurance companies rarely offer their very best deals to existing customers, instead reserving their cheapest possible prices for new customers. Compare cheap car insurance quotes to see how much you can save by switching insurers. Just remember to make sure you are comparing like for like cover, with voluntary excesses set at the same level and including any extras that you’d usually add on.

2. Increase your excess

Opting for a higher voluntary excess when setting up your car insurance cover is another way to reduce your premium. As a general rule of thumb, the higher your excess, the lower your premium - so experiment using our car insurance comparison tool to see how much difference an increased excess could make to your annual auto insurance costs. Remember, though, that you must be able to afford your voluntary excess. If you need to make an insurance claim, you’ll be required to stump it up before your insurer will pay out.

3. Go no-frills

Think carefully before adding extras, such as legal expenses cover, windscreen cover or use of a courtesy car to your car insurance package. While insurance companies are often enthusiastic about their value and they might come in handy, they are not strictly necessary - and including too many add-ons could significantly bump up the price of your policy.

4. Think about the distance you drive

Before buying car insurance, think carefully about how far you really drive in your vehicle each year. If it’s possible for you to agree to a lower annual mileage cap than you did last time you bought insurance, it’s possible you’ll save money. This is an especially helpful tip for two car families, where one vehicle is likely to do more miles in a year than the other - but where this sometimes isn’t obvious until both cars’ odometers are checked.

5. Don’t pay by direct debit

While spreading the cost of your auto insurance might feel less painful than paying for your premium in one go, it will probably cost you more in the long run. Many insurance companies charge interest when customers opt to pay for their insurance monthly, so check before you sign on the dotted line. If your insurer’s policy is to charge interest but you would like to spread the cost of your cover for free, you could consider using a 0% purchase credit card to pay for it - just be sure to clear your balance in full before the 0% period ends.

6. Other ways to cut the cost of motoring

Pump prices might have fallen, but it still costs well north of £50 for a tankful of petrol or diesel in a typical family car.

You can reduce consumption in a number of ways. For example, if your tyres are under-inflated, you’ll use more fuel, especially on lengthy journeys.

Manufacturers recommend checking and correcting the pressure every couple of weeks. If that sounds unrealistic, aim for at least once a month, and always before you go on a long trip.

A quick win on fuel consumption is to remove excess weight. So take a look in the boot and footwells to see if you’re carrying around burdens that are burning a hole in your wallet.

You can also save fuel by driving more smoothly – don’t accelerate or brake harshly, and don’t linger in a low gear longer than is necessary. And if you’re going to be stationary for any length of time – waiting at the school gates, maybe – turn of your engine rather than let it idle.

Fuel costs also vary between forecourts, so it can make sense to shop around to find the lowest priced fuel.

But driving further for cheaper fuel means you could end up spending more to get there than you save at the pump.

Our handy Fuel Cost Calculator will help you work out if your search for cheaper fuel is actually costing you more.

7. Consider car-share

A more radical way to save money is to car-share – either as a permanent arrangement with someone whose schedule fits nicely with yours, or on specific journeys, such as the commute to work or the school run.


Source : https://www.moneysupermarket.com/car-insurance/money-saving-tips/

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5 Tips For Buying life Insurance

Life Insurance Tips

Shopping for life insurance can become an overwhelming task. The good news is once you have mastered a few basics and follow a few simple tips, the process becomes much less complicated. Read on to learn about 5 simple tips for buying life insurance, especially if it's your first time.
When it comes to buying life insurance to protect your family, you have a lot of choices to make. Everything from selecting the right amount of coverage to choosing a reputable life insurance company to buy your policy from can make the process feel overwhelming. The good news is that once you get started, you may discover that the process of buying life insurance really isn't that complicated.

If you're a first time life insurance shopper, a good place to start is by getting a rough estimate of how much life insurance you should be purchasing to protect your family. For a quick and easy way to calculate your needs, try using Protective Life's Needs Calculator. Next, get an understanding of the difference between term and permanent* life insurance so you'll have a good sense of what direction you should take when it comes to these two basic policy types. You can read more about term and permanent life insurance in our article, Term vs Permanent Life: What to Consider.

Finally, before you go shopping for your first life insurance policy, here are a few “good to know” tips for finding the right policy at an affordable price:

• If necessary, take advantage of the “free look” period.

Even after your policy issues, you'll typically have what is called a free look period. During this time, you'll have a certain number of days in which to make changes to your policy, or even reject it altogether. Be sure to ask your company representative how long your free look period is and when it begins. If for some reason you don't feel the policy is right for you, this is the time when you can change your mind with no financial obligation. Read more about the free look period.

•  Compare apples to apples. 

When getting price quotes on life insurance, be sure that you are comparing similar products. Because term life generally has lower premiums than a permanent life policy, there can be a big price difference for a $50,000 term policy compared to a $50,000 permanent policy. Depending on your coverage needs, it's important to look at every angle, not just the monthly premium.

• Understand that life insurance is designed for protection. 

Your main purpose for getting life insurance should be to protect your beneficiaries financially in the event of your death. While permanent life insurance policies have the potential to earn cash value over time, they are not meant as investment vehicles.

• Enhance your coverage with policy riders if necessary. 

When you select a policy, ask your company representative about the types of policy riders that may be available to you. Riders or endorsements are ways in which you can customize your policy to meet your needs and budget.

• Buy from a reputable life insurance company.

Your life insurance policy is meant to financially protect the people you love when you are no longer here to do so yourself. Do some homework on the life insurance company that you are considering buying from and learn more about how to select a reliable life insurance company.



Source : https://www.protective.com/learning-center/life-101/next-steps/Tips-for-Buying-Life-Insurance-What-First-Time-Life-Insurance-Shoppers-Need-to-Know/

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10 Tips to Save on Car Insurance

Car insurance is one of the costliest purchases that consumers hope to never use. While it’s always important to buy the right coverage, it costs a lot more to insure a brand-new car than a five-, seven-, or nine-year-old model you are replacing. Here are 10 helpful tips on how to keep your premiums in line without taking on unnecessary risks.

Do an Annual Rate Check

If you’ve been with the same insurer a long time, it might be tough to beat its rates, especially if you haven’t had any claims lately. In fact, a 2014 survey by the Consumer Reports National Research Center found that only 10 percent of 19,000 ConsumerReports.org subscribers who compared premiums found that they would save money by switching insurers.

It’s easy to compare multiple insur­­ers online, at sites such as Answer Financial, Insure.com, Insweb.com, and NetQuote. You usually won’t get an immediate quote online, but you will get email messages from agents look­ing for your business. Consider forming a relationship with an independent agent, who will check rates for you at a range of carriers.

Pick a Top-Rated Insurer

Saving money isn’t simply a matter of finding the lowest premium. Some insurers have lower premiums, but end up costing you more in the end by lowballing loss estimates, hassling the repair shop to cut corners, and forcing you to pay extra for original-equipment replacement parts. They might even unfairly jack up your premiums after an accident.

We surveyed 64,872 Consumer­Reports.org subscribers who filed a claim between 2011 and 2014. Eighty-eight percent of them were highly satisfied with the handling of their claims. Among the highest-rated groups were USAA, Amica, and NJM, with overall satisfaction scores of 90 or higher.

Set the Right Deductible

A higher deductible reduces your premium because you pay more out of pocket if you have a claim. Hiking your deductible from $200 to $500 can cut your premium on collision by 15 to 30 percent. Go to $1,000 and you could save 40 percent. If you have a good driving record and haven’t had an at-fault accident in years, if ever, opting for a higher deductible on collision might be a good bet. Just make sure you can afford to pay that cost if your luck runs out.

Review All of Your Coverage

Your liability coverage pays for bodily injury and property damage that you cause in accidents. Don’t get caught short by reducing your liability limits to the state minimums. Buying more coverage might seem like an odd way to save, but the benefit comes if you have a costly claim, which can put your life’s savings at risk.
If you have another car that you can use while your vehicle is being repaired, you don’t need to pay for rental-reimbursement coverage. Dump roadside assistance if you have an auto-club membership that’s a better deal, or if it’s part of your new car’s warranty.

Think carefully about personal-injury protection and medical-payments coverage: Forget it if you have good health coverage; keep it if you don’t or if your usual passengers might not be well insured.

Take Advantage of Discounts

Car insurers offer a whole range of modest but worthwhile discounts that are essentially based on a low-risk lifestyle. Here are some to ask your insurer about if they don’t mention them to you first:
Students with good grades.
New drivers who have taken a driver-training course.
Older drivers who have taken a refresher course.
Any driver who takes a defensive-driving course.
Members of affinity groups, such as college alumni and certain occupations and professions.
Anti-theft and safety equipment.

Multiple-Policy Holders

Insurers also offer fairly hefty auto discounts if you also buy your home­owners, renters, or life-insurance policy from them. But be sure you check out total costs both ways: premiums from different insurers compared with single-insurer packages.

Manage Teenage-Driver Risk

Adding a teenager to your policy can hike your costs by 50 to 100 percent. Make sure your child takes a safe-driving course before getting a license. Make it a rule that unsafe driving will mean loss of driving privileges.

Inform your insurer if the child isn’t licensed, or if your child is a college student residing more than 100 miles from your home and doesn’t have a car.

Maintain a Good Credit Score

Most states allow insurance companies to use your credit score as a factor in setting your premiums. Ask your insurance company if it does that. But regularly check and correct credit-reporting errors anyhow. If your finances have been adversely affected by the recession, military deployment, divorce, job loss, death of a family member, or medical problems, ask your insurer for an exception.

Report Reduced Mileage

A major cost component in auto in­surance is miles driven per year. The average is about 12,000. But if you’re driving a lot less than usual for some reason, like a job change or retirement, let your insurer know. Your reduced driving could cut 5 to 10 percent off your premiums.

Choose Your Car Shrewdly

Vehicle damage is the biggest cost component for auto insurers, so premiums will vary by auto model. When comparing models, ask your insurer for premium quotes on the different models under consideration.

Source : https://www.consumerreports.org/car-insurance/10-tips-to-save-on-car-insurance/

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10 tips for teen insurance

The mistake most drivers make is failing to shop around for the best premium and simply accepting an insurer's renewal quote, which is likely to be much higher.

The good news is that comparing car insurance is normally simple and easy and you can find the best price in less than five minutes.

You can then compare the quality of the policy and have a idea of the best price to negotiate with your existing insurer, if you want to stay put.

Furthermore, comparing prices to find the best car insurance deal is crucial at the moment, as costs are rising.

Thanks to recent reforms to compensation payouts, motorists face a 10 per cent - around £50 - hike in their car insurance premiums. Piling on more pain, bill payers also saw an extra £10 on average added to bills thanks to a rise in insurance premium tax to 12 per cent.

Therefore, it is now more important than ever to make sure you are not overpaying for your car insurance.

There are a handful of ways to help reduce your car insurance costs? Whether you are male or female, old or young, follow our ten steps to lower premiums.

1. Shop around for the best car insurance

This is the number one way to save on car insurance. Savings of hundreds of pounds can be found if you shop around when you renew your cover.

Be careful though. When shopping around for car insurance, it's important to make sure that you are comparing like-for-like cover. Some policies may seem cheaper, but you may find you don't have the same level of cover when you have to make a claim.

Use an online comparison service to do the hard work for you. Put in your details and check the prices that come up. You can alter the excess that you are willing to pay and the mileage you will drive and get new quotes.

Try This is Money's car insurance search powered by MoneySupermarket here - it will search more than 130 insurers for you, remember your details for next year and remind you when it is time to renew.

Also check the insurers that don't feature in comparison sites, the big two are Direct Line and Aviva. It is also worth checking Admiral separately for its Multicar offers if you are looking to insure more than one vehicle.

Other car insurance comparison options include Confused.com, GoCompare, and ComparetheMarket

If you've been happy with the cover your existing provider has given until now but are unhappy with their renewal quote, let them know the best offer you have received from a rival insurer and ask them to at least match it. Comparing prices is essential to finding this information.

2. Don't put everyone on your policy

Ensure that only regular drivers are named on the policy. You can always add someone for a few days when they really need to drive the car.

3. Protect that no-claims bonus

A long no-claims bonus is the single best way of cutting car insurance costs, so protect it.

This may increase the premium by a few pounds, but this fades into insignificance against the potential loss of a 90 per cent discount on a premium of several hundred pounds.

But the definition of a protected no-claims bonus can vary widely between insurers.

Though accidents caused by another driver will normally have no impact on such a bonus, those caused by the insured could. The key is to always check the policy carefully.

4. Increase your voluntary excess

Agreeing to pay more towards the cost of any accident repairs will bring down premiums. If you are not at fault in an accident, the excess can be recovered. Beware being tempted to allow it to rise too high, however, especially if you have a lower value car.

5. Secure your car

Fitting an approved alarm, immobiliser or tracking device can attract a discount of around 5 per cent. Many newer cars will come with these as standard, so make sure you check if you have them and then declare them.

6. Do fewer miles

Reduced mileage equates to a greater saving.

For example, a reduction in annual mileage of 5,000 miles could save a typical 35-year-old driver about £50 a year in premiums.

A cut of 10,000 miles a year could save more than £100.

But you must be honest about your annual mileage, as inaccuracy will jeopardise any claim.Check your use cover - if you don't use your car to drive to work or for business - both things that increase your premium - you may be able to get a cheaper rate.

7. Think carefully about adding young drivers

Adding a young, inexperienced driver to your policy can be a false economy, especially if you have a large or higher powered vehicle.

The premium will still be affected by the youngest driver and he or she may not have a no-claims bonus. Insurers have also been cracking down on fronting, where parents insure cars in their name for children to cut costs, so make sure if you are the policyholder on a car driven by your children that you are actually its main driver, or that you declare otherwise.

8. Watch out for insurance trap cars

If you decide to change your car, check with your insurer if the model will have a significant effect on the premium.

Sporty cars can attract a high premium and often a slightly different model or smaller engine can make a big difference in your favour. It will also probably save you on petrol too!

Be aware that Insurers will try to include administration fees for changes to a policy mid-term. This fee, usually between £25 and £50, will be added if you change a vehicle or your home address.

However, you can ask for the fee to be waived if it is a minor adaptation, such as changing to a personalised registration number.

9. Remember what the garage is for

If your garage is full of junk, clear it out and use it for your car.

Insurers like cars kept in garages overnight and this can dramatically cut your premium.

Aside from the benefit of not having to scrape the ice off in winter, there is a higher risk of theft by keeping the car on the road, so keeping it in the garage will be reflected in your premium.

10. Be a better driver and sign up to a blackbox

Blackbox policies, where the insurer installs a system in your car to monitor your driving, reward those who drive carefully.

Officially called telematics, these check your speed, how aggressive you accelerate and brake and how cautiously you drive, and also whether you are on the road at perceived dangerous times - i.e. the early hours of the morning.

They can cut premiums substantially once you start proving you are a good driver. The biggest win is for those whose premiums are high, especially young drivers.

Some insurers even offer an up front discount if you take out a telematics policy.

Source : http://www.thisismoney.co.uk/money/cars/article-1640018/How-cheapest-car-insurance-Ten-tips-cheaper-car-cover.html

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Tips Save Money On Car Insurance

Having adequate car insurance is both smart and prudent, but there's no question that it adds to the expense of driving. The good news is that premiums can vary by hundreds of dollars depending on a number of factors. Review your coverage at renewal time to make sure your insurance is in step with your needs, and follow these practical steps to reduce the bottom line on your auto policy.

Shop around for your car insurance

Prices differ from company to company, so it pays to shop around.

Get at least three quotes, from both different insurance companies and different types of insurance companies—that is, those that sell through their own agents; those that sell through independent agents; and those that sell directly to consumers via the phone, an app or the Internet. Ask friends and relatives for their recommendations based on their experiences, and do your own due diligence by researching the company before committing.

Understand auto insurance enough that you can ask a prospective insurer informed questions. Anyone you speak to should take the time to answer to your satisfaction. Remember, these are the people you'll rely on if the worst happens and you need to make a claim.

Keep in mind that the lowest price isn't always the "cheapest" option. Make sure the company you choose is reputable, and that you're comfortable with the service you get from the insurance professionals you speak to. Your state insurance department or online consumer information sites may provide information on consumer complaints by company to help you choose the right insurance company for your needs.

Compare insurance costs before you buy a car

Auto insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of car theft or personal injuries, or for cars that are known to be safe. When you're comparing new or used vehicles to purchase, also research what each will cost to insure. To start, you can check safety rankings for specific models with the Insurance Institute for Highway Safety’s (IIHS) online Top Safety Pick ratings tool.

Raise your deductible

By choosing a higher deductible on your car insurance, you can significantly lower your premium costs. Of course, be sure you have enough money set aside to pay the higher deductible in the event you have a claim.

Reduce optional insurance on your older car

As a rule of thumb, if your older car is worth less than 10 times the insurance premium, having collision and/or comprehensive coverage may not be cost effective. To find out whether this is true for you, check the value of your car. You can look up what your car is worth for free on websites such as Kelley Blue Book, National Association of Auto Dealers (NADA), and TrueCar.

Bundle your insurance and/or stick with the same company

Many insurers will give you a discount if you purchase two or more types of insurance from them—such as homeowners and auto—or have more than one vehicle insured. Some companies offer a price break to longtime customers. There are no guarantees so do your homework and compare costs for a multi-policy discount from a single insurer with buying your insurance separately from different companies.

Maintain a good credit history

Establishing a solid credit history has many benefits, including lower insurance costs. Many insurers use credit information to price auto insurance policies. (Research shows that people who effectively manage their credit make fewer claims). To be sure you’re getting the good credit you deserve, it’s a good idea to check your credit record on a regular basis to be sure all information is accurate.

Take advantage of low mileage discounts

Some companies offer discounts to motorists who drive less than the average number of miles per year. Low mileage discounts can also apply to drivers who carpool to work.

Ask about group insurance

Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Check with your affiliated organizations to see what they offer.

Seek out other discounts

There are other discounts that your insurer may offer to policyholders. For example, some companies offer discounts to those who've not had any accidents or moving violations during a specified period, or who have taken a defensive driving course. If there is a young driver on your policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate.
Ask your insurer what discounts you might qualify for, but keep in mind that what's important is the final cost of your policy. A company that offers few discounts may still be able to give you a lower overall premium price.


Source : https://www.iii.org/article/how-can-i-save-money-auto-insurance

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Tips Auto Insurance For Teenagers

Tips Auto Insurance for teenagers.

For parents, the excitement of having a first-time driver in the house is usually tempered with worry. With little driving experience and raging hormones, immature drivers are at a higher risk for accidents. Of course, safety concern is uppermost in most parents' minds but other stressors—like the high cost of insuring your new driver and the financial liability implications of a teen driving mishap—can be reduced with these steps.

Before getting a learners permit, make a call to your insurance professional

Your agent or rep can clearly explain the costs involved in insuring a teenage driver. The good news is, as your teenager gets older, insurance rates will drop—providing he or she has a good driving record. Therefore…

Involve your teen in the car insurance discussion

From the outset, it's important to talk to your kid about the relationship between driving a car and the attendant responsibilities, including insurance costs. Explain and reinforce driving safety tips and the serious consequences of driving infractions or accidents, including increasing the cost of insurance.
Encourage positive behaviors

Auto insurers offer discounts or reduced premiums to:
Students who maintain at least a “B” average in school
Teens who take a recognized driver training course
College students who attend school at least 100 miles away from home and don't bring their car to campus

Choose the right auto insurance company

It's generally less expensive for parents to add teenagers to their auto insurance policy than it is for teens to purchase one on their own. By insuring your teenager’s car with your insurer, you may also qualify for a multi-vehicle discount. That said, insurance companies differ in how they price policies for young drivers, so do some research into prices to be sure to find the best fit for you and your teen.
Assign your teen to the right car

Find out how your insurer assigns drivers to cars—some insurers will assign the driver who is the most expensive to insure (generally the teenager) to the car that is the most expensive to insure. If possible, assign your teen to the least valuable car.

Note that with this kind of arrangement there can be no exceptions; your teen must use only the car to which he or she is assigned, even in an emergency. If your teenager is involved in an accident with an unassigned car, penalties could be imposed and your own premiums might increase.
Increase your liability insurance for greater protection

If your teen gets into an accident, state minimums for liability insurance will not be enough to fully protect you from lawsuits. Consider purchasing higher amounts of liability coverage—if your teenager is found negligent in an accident and the damages exceed your insurance limits, you will be held financially responsible and could be sued in court for those amounts not covered by your insurance. Depending on the value of your financial assets, you may even want to have the extra protection that a personal umbrella liability policy provides.
Raise your deductible to save on your premium

The higher your deductible, the more money you can save on your premium, so consider raising your deductible from the minimum amount required. You may want to use those savings to increase your liability insurance.

source : https://www.iii.org/article/auto-insurance-teen-drivers

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Tips Choosing An Insurance Company !

There are many insurance companies, so choosing between them can be a challenge. Here are the main points to keep in mind when selecting an insurance company:

1. Licensing

Not every company is licensed to operate in each state. As a general rule, you should buy from a company licensed in your state, because then can you rely on your state insurance department to help if there’s a problem. To find out which companies are licensed in your state, contact the state insurance department.

2. Price

Many companies sell insurance policies and prices vary greatly from one to another, so it really pays to shop around. Get at least three price quotes from companies, agents and from the Internet. Your state insurance department may publish a guide that shows what insurers charge for different policies in various parts of your state.

3. Financial Solidity

You buy insurance to protect you financially and provide peace of mind. Select a company that is likely to be financially sound for many years, by using ratings from independent rating agencies.

4. Service

Your insurance company and its representatives should answer your questions and handle your claims fairly, efficiently and quickly. You can get a feel for whether this is the case by talking to other customers who have used a particular company or agent. You may also want to check a national claims database to see what complaint information it has on a company. Also, your state insurance department will be able to tell you if the insurance company you are considering doing business with had many consumer complaints about its service relative to the number of policies it sold.

5. Comfort

You should feel comfortable with your insurance purchase, whether you buy it from a local agent, directly from the company over the phone, or over the Internet. Make sure that the agent or company will be easy to reach if you have a question or need to file a claim.

Source : https://www.iii.org/article/choosing-an-insurance-company

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